Joint Retirement in Europe

34 Pages Posted: 20 Dec 2014

See all articles by Bo E. Honoré

Bo E. Honoré

Princeton University - Department of Economics

Aureo de Paula

University College London - Department of Economics

Date Written: October 31, 2014

Abstract

In this project we study joint retirement of couples in Europe. We characterize various empirical regularities and use a model for simultaneous duration variables developed in Honore and de Paula (2014). Whereas conventionally used duration models cannot account for joint retirement, our model admits joint retirement with positive probability, allows for simultaneity and nests the traditional proportional hazards model. In contrast to other statistical models for simultaneous durations, it is based on Nash bargaining and it is therefore interpretable in terms of economic behavior. We focus on the Survey on Health, Ageing and Retirement in Europe (SHARE) and the English Longitudinal Survey of Ageing (ELSA).

JEL Classification: J26, C41, C3

Suggested Citation

Honore, Bo E. and de Paula, Aureo, Joint Retirement in Europe (October 31, 2014). Netspar Discussion Paper No. 10/2014-052, Available at SSRN: https://ssrn.com/abstract=2540510 or http://dx.doi.org/10.2139/ssrn.2540510

Bo E. Honore

Princeton University - Department of Economics ( email )

Princeton, NJ 08544-1021
United States

Aureo De Paula (Contact Author)

University College London - Department of Economics ( email )

Gower Street
London WC1E 6BT, WC1E 6BT
United Kingdom

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